Akastor

Akastor ASA: HMH appoints Dan Rabun as Chairman of the Board of Directors

Akastor ASA's (OSE: AKAST) 50% owned affiliate HMH Holding B.V. ("HMH")

has today announced that Mr. Daniel "Dan" W. Rabun has been appointed as

Chairman of the Board of Directors effective October 21, 2024.

Mr. Rabun is a seasoned executive with extensive leadership experience across

multiple industries, having held key roles such as CEO, Chairman, and Board

member at major companies, including Ensco plc, Golar LNG Ltd, ChampionX

Corporation, Borr Drilling, and APA Corporation.

A copy of HMH's announcement with further details can be found on their

webpage; https://hmhw.com/news/.

For further information, please contact:

Øyvind Paaske

Chief Financial Officer

Tel: +47 917 59 705

This information is subject to the disclosure requirements pursuant to Section 5

-12 the Norwegian Securities Trading Act.

****

About HMH

HMH is a premier drilling solutions provider, which was formed as an independent

company in October 2021 through the merger of Baker Hughes' (Nasdaq: BKR) Subsea

Drilling Systems business and Akastor ASA's wholly owned subsidiary, MHWirth AS.

HMH is a leading provider of highly engineered, mission-critical equipment

solutions, providing customers with a comprehensive portfolio of drilling

equipment, services and systems utilized in oil and gas drilling operations,

both offshore and onshore. HMH's global reach, technical expertise and

innovative product offerings, coupled with its integrated operations from

manufacturing to aftermarket services, allow HMH to provide customers with first

class technology, engineering and project management services through the entire

asset lifecycle of the equipment it provides. In addition, HMH is growing its

portfolio of products and services to adjacent industries, such as mining. The

complexity and criticality of HMH's installed equipment drive customers to

choose HMH for their aftermarket support, particularly in the offshore

environment, which is subject to extensive regulation. For further information,

please visit homepage: https://hmhw.com/

About Akastor

Akastor is a Norway-based oil-services investment company with a portfolio of

industrial holdings and other investments. The company has a flexible mandate

for active ownership and long-term value creation.

AI Terminal